Belarus Does Not Plan to Denominate Ruble in 2008

Belarus is not going to denominate the national currency in 2008, BelTA learnt from the National Bank information department.

According to the National Bank, the Belarusian ruble will remain stable. In line with the major monetary policy guidelines of the Republic of Belarus in 2008, the official exchange rate of the Belarusian ruble against the US dollar will fluctuate within 2.5% as of January 1, 2009.

The National Bank will continue the policy of strengthening the national currency, creating favourable conditions for ramping up the deposits in Belarusian rubles and making the loans more accessible to individual and corporate clients. As before the interest rates of deposits in the national currency will be higher than the inflation rate and the interest rates of the savings in foreign currency.